Determine the amount required to settle debt at end of years

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Reference no: EM131307925

A person owes $1300 at the end of 5 years and $6550 at the end of 10 years. Due to changes in their financial situation, the person was allowed to pay $900 at the end of 3 year(s) and a final payment at the end of 13 years using 10.5% compounded annually for the settlement. Determine the amount required to settle the debt at the end of 13 years.

Reference no: EM131307925

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